Replies to post #1920 on VIASPACE Green Energy Inc (VGREF)

[hedge_fun]

From the ORIGINAL S-1......

This was suppose to be ASSIGNED to IPA until they waived the right of assignment in lieu of an extension.

(e) Licensor Agreement. Licensor has entered into an agreement (“Licensor Agreement”) with Inventor to purchase seedlings of three types of fast-growing, proprietary grasses developed Inventor and identified as “Giant King Grass”, “Purple King Grass” and “Elephant Grass”, for use as livestock feed and cellulose-based fuels. The Licensor Agreement grants Licensor the exclusively right to purchase such seedlings in the United States and Canada and the exclusive right to purchase batches of over 20,000 of such seedlings in Guangdong province, PRC, provided that Licensor purchase a minimum of 1,000,000 of such seedlings each year. Licensor also has non-exclusive rights to purchase such seedlings for use on a worldwide basis. The term of the Licensor Agreement is at least three years. Licensor has paid all required licensing or other fees or payments under the Licensor Agreement as of the First Closing, is not otherwise in default of the Licensor Agreement, and the Licensor Agreement is valid and enforceable in accordance with its terms.

(f) Grass License. Licensor has entered into the Grass License with IPA China pursuant to which Licensor has granted all its rights under the Licensor Agreement to IPA China. IPA China has paid all required licensing or other fees or payments under the Grass License as of the First Closing, is not otherwise in default of the Grass License, and the Grass License is valid and enforceable in accordance with its terms.

(g) Grass Assignment. As of the Second Closing, the Grass Assignment is valid and enforceable in accordance with its terms.

and of course THE LINK.........

http://www.sec.gov/Archives/edgar/data/1465062/000101968709002041/viaspace_s1-ex1001.htm

Now you are DP, and you are ready to sign (because of 700 lab test) when Carl says, "we don't have specified terms. The only thing we do know is the license was suppose to be for at least 3 years, and that 3 years expired recently.

We also don't have a direct relationship with the Inventor, but last we heard it was all good with China Gate and the Inventor. Besides, we are talking with many folks you don't know about, and we just hired another PhD. You should sign as there may not be enough GKG to go around."